EMI Calculator
Calculate the monthly EMI for any loan — home, car or personal — along with total interest payable and a complete month-wise amortization schedule.
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Result
Monthly EMI
₹0
- Principal amount
- ₹0
- Total interest payable
- ₹0
- Total payment (principal + interest)
- ₹0
View amortization schedule (month-wise)
| Month | Principal | Interest | Balance |
|---|
How EMI is calculated
An Equated Monthly Instalment (EMI) is the fixed amount you repay each month against a loan. It uses the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months.
Early in the loan, most of each EMI goes toward interest; over time the split shifts toward principal. The amortization schedule above shows exactly how each month's payment divides between the two and how the outstanding balance falls. This is also why prepaying in the early years of a long home loan saves far more interest than prepaying near the end.
As a sanity check: a ₹25 lakh loan at 8.5% for 20 years works out to an EMI of about ₹21,696, and total interest of roughly ₹27 lakh — more than the principal itself. Comparing tenures with this calculator before signing can save you lakhs.